Selling a home can be a rewarding endeavor that provides an unburdened path forward, as well as the ability to relax in a new, destination abode—at least if you approach the process with the right amount of abundance. Depersonalizing your space is one of the surest ways to attain success in pushing a home onto the market. Touring families and interested buyers know that someone has lived in a home before, which is probably why staging techniques are so pivotal: They allow people to envision a living space of their own.
Option Two: Sell to a company that specializes in buying homes “as-is” (so to speak), which is ideal for those homeowners who would rather not incorporate more responsibilities into their daily lives. So, if you have money to invest in some paint cans, but you don’t necessarily have the nest-worth of cash for a private contractor, go tame some weeds or repaint your front door!
Option 3: Sell to an all-cash offer: Cash buyers are sometimes realty companies and sometimes individuals who are looking to invest in properties that they can build upon, only to resell. Lenders, on the other hand, typically are trying to purchase a move-in property that they can immediately inhabit. Be sure to request a proof of funds letter (often abbreviated as POF) from an all-cash buyer!
Considering Alternative Selling Options
The “we buy houses as is” option offers a solution for homeowners who need to sell their houses fast and get on with life without undergoing the inconvenience of making home repairs or renovations. If a homeowner were to go the traditional route of listing their house for sale with a Realtor®, they will probably need to spend time and money updating the house until it’s in a condition that will make it attractive to prospective house buyers.
For many homeowners who
are going through a period of severe financial difficulty,
or will need to relocate very soon for work
and for several other inconvenient reasons stated here,
this isn’t a particularly palatable option as it requires the homeowner to spend time and money first, renovate the house, before the homeowner can sell the house and receive a payment for it.
Likewise, “we buy houses as is” continues to be one of the key options homeowners choose when they’re looking to sell their houses fast, for the obvious fact that it lets them achieve just that in a very short time.
This one reason complaines the other reasons and is one of the most important reasons that have led to many people in North Carolina who want to sell their house fast to come knocking on our door.
Many times, homeowners have been able to sell their houses to use and receive a cash payment for their house within one week.
They then use the money to pay, for example, for the urgent hospitalization fees of their son, mother, wife, or single mother.
When they learn that one of their house is about to be repossessed, they then learn that we can make it possible for them to receive a payment on their house within one week, using which they can right away make the first payment to keep their house from being repossed.
They will then still have more than enough time left during which they will be able to pay the rest of the possession fees back to their moneylenders — late fees are much more manageable than the not-at-all desirable house repossession fee.
Marketing Your Property
Interested in selling your home? Here’s a look at a few of the most effective ways to do it in today’s hot-hot-hot real estate seller’s market:
- Online Listings — Strap in! We’re about to do some serious traveling around the internet. But doing so is crucial because your online listing — that’s the web page that will pop up at showyourhome.com with your property’s details, images, and other crucial elements — is the first place many potential buyers may get a look at your home.
- Zillow, Realtor.com, etc. — These platforms showcase your online listing for most of the property-buying universe to see, thus connecting you with as many potential buyers as possible.
- Social Media — Just as social media platforms allow you to snoop on your friends, high school classmates, ex-boyfriends/girlfriends, and celebrities, they also allow you to engage with potential buyers in real estate groups or on your agent’s brand pages. By doing this, your agent should share some great posts and as many of your property’s highlights as possible on their Facebook, Instagram, LinkedIn, and other social media platforms.
- Open House — The most traditional yet still effective way for potential buyers to get that “wow” factor. Sure, your agent can take pretty pictures and include them in your online listing and on their social media platforms, but nothing beats the effect an in-person visit to your home has for a potential buyer!
Understanding the Selling Process
There are several key, sequential steps to any home sale. First, you want to evaluate your local market and pick a price to list at. You may want to hire a real estate professional at this point to help you understand comparable properties in your area and historic market dynamics. Setting the right listing price is important. Picking the wrong price may give you a longer “days on market” (how long before you sell the house) which you probably don’t want.
Next, you might also need to fix up your house to prepare to list. This could involve projects like decluttering the adjoined garage you conveniently overlook each day, or staging the home to look appealing to buyers. Put another way, first impressions matter to people. Staging a house and getting professional pictures taken is the tried and true method to have a successful showing and subsequent sale.
A step to tie all of this together is to set a specific timeline. To do this, you might overrun all of your personal schedules and try to “read the market” to determine what the price is, when you will have a buyer, etc. Clearly, people get this wrong so often that the entire process can seem very daunting and stressful.
Just be flexible so that you don’t set every second of your life Milli-second by milli-second, left to right. And if you need to negotiate, go for it!
Preparing Your Home for Sale
Decluttering and staging a home are both ways that an agent will recommend you prepare yours to be viewed by potential buyers. They may suggest that you declutter first. Get all of the “objects” that are not going to be desired by buyers out of the home. This might include items in the garage, furniture in certain rooms, photos of the kids over the mantel, pet feeding trays and so on. The point—just like CLEAN—a decluttered home is much more likely to put a shopper in a comfortable mental state; one in which they are less likely to be clumsy and staring intently at things that they might knock over, and more likely to be relaxed and interested in moving on to “next steps”. When they have achieved this state, you and your agent can begin to credential the home. (“This minifridge is a Sub-Zero, the closet has space for your cycling bag, you can curl up with a book near the family room fireplace after a ride…”)
The agent may, instead, suggest staging. Should you ‘stage’ your own home, the best advice may be ‘when in doubt opt for minimalist’. This should minimize your risk of skewing the taste of your end result too far from what is most likely to be popular. (If your typical floor lamp contains your “best” lamp shade, [the one with which you’ve been least able to part from your Grandma’s starter home] you may be somewhat expected [by your stager, and probably your sweetheart] to offer objection to new window treatments and ‘tall lamps’ without your skinny, brown furniture, doily runner and
Source; www.classicbrands.com
Besides your favorite lamp, you would know that a hypermodern look is likely not going to gel at all too well with your hardwood and the other two favorites for which you’re most passionate—all of which you may have in common with the house [dining room buffet, and the heirloom jewelry box in the bedroom master].
Staging costs money. But if you stage your property well, you may be offered the ultimate in reciprocity. A done deal. For more than you asked. On the earliest terms that you offered, sell fast now, for a price that is likely to be the least depreciable and—in 100% of sales—100% as developers develop, houses age, the latest fashions become dated…
The safe strategy is expensive. If you can’t obviate the cost internally, you can look for cost savings elsewhere. A professional stager—is the world’s best “BMI”, a “SAM” or a “Barbie”?
Staging is often done professionally, and mirrors the punchy approach that professional developers apply to “comps” that they try to sell. You’ll while you do the job of an interior designer for perhaps 10, 20, or 50 [or however bonus munch you’re willing to part with] bonus MUNCH$. What, exactly, are bonus MUNCH$? We’ll leave that inside job for your own interior decorators. You only need read above, for only so far, to understand that your agent is likely to be the more efficient source for advice. In the grander scheme of your own this, think that or that that, you still have a whistle to sell. So you may “still wish” to consult your trustee. “She still covets whistling”, she persists.
Do not forget the long game; what else happens, most often, when you’re not “showing”—during that dreadful “Open House”. Will you be stuck with a new “closet racetrack”, “end table”, and living-room “less oval” to sit in? In the 20’s? In the under $100…
Pricing Your Home Right
Market analysis is an effective way to study supply and demand in your industry. Using current trends, consumer data, and economic indicators, you can get a better sense of what, if any, opportunities or threats are out there. From there, you can begin to project what represents fair market value.
More than that, you need to know whether your product or service has value on the market. But how can you possibly know that? There’s no magic formula for deciding the exact price to charge for everything, but you can still be strategic about it.
An approach you can use is looking at comparable sales, or just “comps.” This becomes most practical (for you) because comps allow you, in part, to identify what similar hoops sell for, even if those hoops are in a completely different area. Therefore, you have the opportunity to gauge where your price elasticity comes back (i.e., where you can set your price). That way, you avoid pricing too high (i.e., possibly less competition, but increased profitability) or too low (i.e., more competition, but decreased profitability).
All it boils down to is the law of supply and demand. What some buyers are willing to pay involves so many different variables. Because of that variety, however, you can generally create “versions” of your product or service that are universally appealing.
As we wrap up our discussion on home preparation, key points must be considered. From decluttering and staging, to searching real estate trends. Everything listed will hopefully play a part in attracting a buyer. So why not prepare your house? A house is only one of a thousand others on the market. Prepped homes can be more valuable than their standard, lower price competitors. Sell for bigger!
We’ve read all these chapters on preparation. Now it is time to prepare if you’re thinking of selling. With a home like this, go to chapter three to check out how you might need to prepare. Go to the home depot or call your yard care professional. Learn from some of the methods we’ve explored and build your own yard (or front lawn, if suburban ‘types are reading this) If alternative sales methods are more your speed, feel free to sell now; There’s no good time to sell, except when you get ready to.
Contact a real estate agent. They will tell you what will attract buyers right now, in your neighborhood.
Stand out! It’s okay to prioritize cheapness or a quick move-out, over a better price point.